Spanish residential developer Cívitas has acquired urban land in the Los Rodeos area, owned by marina Puerto Banús, where it will build luxury housing.
The site is located 600 m2 from the marina and the luxury homes will have exclusive services, including mooring in Cívitas Puerto Banús, access to VIP parking, and access to boats.
In association with Puerto Banús, Cívitas plans to develop other luxury villas in Marbella, Mijas and Estepona with premium services and under the highest standards of quality, service and sustainability.
The partnership will involve investments of €80 mln in the first five years.
In addition, Cívitas, in association with Puerto Banús, acquired the naming rights for five years, thus renaming the port as Cívitas Puerto Banús.
The port of Marbella thus becomes the first marina in the world to market its naming rights, similar to sports facilities and entertainment venues.
Puerto Banús has an average of five million visitors a year and generates €954 mln in GDP for Costa del Sol, according to PwC.
The facilities include more than 200 commercial premises and 915 moorings for boats.
Cívitas has over 8,000 homes under development in eleven Spanish cities and is targeting a turnover of €400 mln in 2025.
